07/23/2012 01:15 pm ET

50 Cent Dives Into Professional Boxing With The Money Team Promotions

After launching an array of business ventures throughout his music career, Curtis “50 Cent” Jackson is now looking to make an impact in professional boxing with a new promotion company.

Sports Illustrated reports that the multi-platinum rapper recently attained a license for his TMT (The Money Team) Promotions company in New York and is in the process of applying for a license in the state of Nevada. Last April the mogul’s close friend Floyd Mayweather Jr. opened up to XXL magazine about the G-Unit general’s involvement in the boxing business.

“As far as boxing I think he is going to be involved with the promotion side,” Mayweather said. “We may even put him out there; let him fight on pay-per-view one time. We don’t know what the future holds, but he is getting involved with boxing. He would bring a lot to the table. We believe there’s enough to go around, he’s not just my friend, he’s not just my best friend, he’s one of my business partners and one of the smartest guys I know.”

TMT Promotions already has its sights set on signing former featherweight title holder Yuri Gamboa and super middleweight contender Andre Dirrell, according to Sports Illustrated.